Asian hedge funds hunt for treasures overseas

By Nishant Kumar
HONG KONG | Tue Jan 18, 2011 4:37am EST
HONG KONG (Reuters) - Asian hedge funds, starved for capital since
the financial crisis in 2008, are beginning to make a tactical
sojourn to markets abroad, directly chasing clients in the United
States and Europe to gather the elusive assets.

The move, vital for their survival as most of the assets into the
Asian hedge funds are sourced from the two regions, comes after
global players cornered much of the flows last year given their large
asset base and proximity to institutional investors.

It also shows the growing confidence of Asian managers who, armed
with a stellar performance in 2010 and 2009, are ready to commit
capital and compete for assets with the big guns.

"How much of the capital that is really being raised by Asian
managers is coming from Asia? Virtually all that money comes from
Europe and America," said Mark Wightman, head of asset management
strategy for Asia-Pacific at specialist technology group SunGard.